AFRICA/GLOBAL FINANCIAL CRISIS: Funding Gap.

The article reports on the impact of the global financial crisis in 2009. World Bank claimed that developing countries could face a financing gap of $270 billion to $700 billion in 2009. International Monetary Fund said that poor countries needed $25 billion in low-cost finance to endure the global financial crisis. As unemployment increases and more migrant workers lose jobs in Europe and the U.S., incomes of poor families will be badly affected. Furthermore, remittances to developing countries including Africa, Easter Europe and Central Asia will decline.